Make-Up Contributions to the TSP

Submitted by John Cooney on Jul 25, 2019

Federal Service employees, who also serve in the military, have access to some benefits with regards to the Thrift Savings Plan (TSP) that can apply if the employee is required to leave their Federal job to perform military service.  This article will highlight the eligibility requirements, rules, and provide some examples to help you determine if this is a benefit that you can take advantage of.

TSP, blended retirement system, retirement, military retirement, FERS, fee-only financial planner

Improvements to the TSP May Be Coming Soon!

by John Cooney on Jul 17, 2017

Thrift Savings Plan, retirement, military retirement, TSP

When I talk to people about the Thrift Savings Plan the most common complaint I usually hear is how difficult it can be to withdraw funds from your account.  Well, you may not believe it, but there is a bi-partisan effort underway in Congress to improve these rules and allow for greater withdrawal flexibility for TSP participants.  In April, Senate Bill 873, The Thrift Savings Plan Modernization Act was sponsored by Senators Portman and Carper, and at the end of June, a companion bill, HR 3031, was sponsored in the House of Representatives by Representatives Cummings, Meadows, and Norton. 

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